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Shanghai Automotive Industry Corporation
| title = 2009 Annual Report — Highlight Figures | year = 2009 | publisher = Saicgroup | accessdate = 2010-12-29 }} |industry = Automotive |products = Automobiles | revenue = RMB 230 billion (2009) | operating_income = | net_income = | assets = RMB 203 billion (2009) | equity = RMB 50 billion (2009) |homepage = www.saicmotor.com |subsidiaries = }} The Shanghai Automotive Industry Corporation ( ) ( ; abbreviated 上汽 Shàngqì or SAIC, pronounced ) is a government-owned, Chinese automobile manufacturer. One of the "Big Five" Chinese automakers, SAIC participates in the oldest surviving foreign-Chinese joint venture, with Volkswagen. It also has a joint venture with General Motors. It was the most-productive vehicle manufacturer in China in 2010 selling 3,56 million units.China Car Market 101: Who Makes All Those 18 Million Cars? thetruthaboutcars.com, January 19, 2011 History SAIC's long and storied history spans nearly fifty years and has seen the company through more than one total transformation. Along with First Automobile Works, SAIC was one of the few carmakers in Mao's China, making the Shanghai SH760 for government officials not important enough to warrant a FAW Hong Qi.The home team: Indigenous carmakers are working their way up economist.com, Nov 13th 2008 SAIC Motor and its joint ventures in China sold 2.72 million vehicles in 2009. Foreign acquisitions In addition to its joint ventures with foreign companies, SAIC has sought ownership of several foreign carmakers. MG Rover-SAIC incomplete negotiation In August 2004, it was learned that SAIC was in talks to buy Britain's MG Rover Group. In November, it was announced that SAIC could take a 70% stake in a joint venture company shared with MG Rover in return for its £1 billion investment. In March 2005, Shanghai Automotive Industry Corporation (SAIC) and Nanjing Automobile Corporation (NAC) announced their intentions of acquiring 50% and 20% shares of MG Rover respectively. However, in April 2005, it emerged that SAIC would not proceed with the MG Rover deal, after concerns about the British automaker's financial stability. This news sent MG Rover into administration receivership. SAIC had claimed that it had already acquired Intellectual Property Rights in some Rover products for £67 million in the autumn of 2004, including the Rover 25, the Rover 75 and the Rover Powertrain K-series engine, but the Administrators advised that there was still interest in saving some other parts of the company, including MG, and Friday, 13 May 2005 was set as the deadline for bids from potential investors. In June 2005, it emerged that SAIC held the rights to the MG TF sports car. Commentators in the British media claimed that the rights were transferred by its former owner, MG Rover, to SAIC accidentally. SAIC bid for MG Rover assets but on 22 July 2005, the Nanjing Automobile Corporation purchased the British Group for £53 million. Having bought the rights to a number of Rover models, the group tried to purchase the Rover name from BMW Group for £11m, but this bid also failed and the Rover brand eventually went to the Ford Motor Company Inc. of the USA after its exercised its right over the name following its purchase of Land Rover in 2000. The company has plans to release an updated version of the Rover 75 as the 750, under the main brand name of Roewe. At the end of 2007, Nanjing Automobile Corporation entered Chinese Government-supported talks with SAIC about a possible merger. Their cars, MG 7 (NAC) and Roewe 750 (SAIC) share mechanical features. The takeover was completed on 26 December 2007, transferring all NAC assets to SAIC ownership, including the MG name and the Longbridge factory in the British West Midlands. In December 2008, SAIC has been in talks with Ford to purchase Volvo for $6 billion.http://www.autoblog.com/2008/12/08/ford-in-further-talks-with-shanghai-auto-to-sell-volvo/ Ssangyong Motors purchase In late 2004 SAIC bought a 51% stake of SsangYong Motor Company and took over management. In January 2009, after recording a $75.42 million loss, the company was put into receivership. This may have been due to the global economic crisis and shrinking demand.Article from MarketWatch Company employees and analysts have blamed SAIC for stealing technology from the company and failing to live up to its promise of continued investment.Article from TradingMarkets SAIC denied allegations of technology theft made by company employees.Article from asiae.co.kr Regardless, SAIC was charged by the South Korean prosecutor's office for violating company regulations and South Korean law when it ordered and carried out a transfer of proprietary Ssangyong technology that was developed with South Korean government funding over to SAIC researchers.Article from donga.com Electric vehicles SAIC revealed an all-electric version of the Roewe 350 powered by lithium-ion batteries in late 2010.SAIC's Roewe 350 all-electric car unveiled globaltimes.cn, November 11 2010 It is not certain if the vehicle will be offered to consumers, but a small electric vehicle is supposed to be on the market in 2012. China subsidies oilChina's fuel subsidy costs the world reuters.com, Wed Jun 4, 2008 8:08am EDT and some Chinese automakers see opportunities in less mature electric vehicles because Western companies have yet to develop much of a lead in the technology.Mr. Heyi Xu，the president of Beijing Automotive Industry Holding Co., Ltd. delivered a speech at the 2009 China (Changchun) International Automobile Forum BAIC Official Site, 2009-07-20Big bet on better battery-run cars chinadaily.com.cn, 2011-01-03 Joint ventures and subsidiaries Chinese-foreign joint ventures: * SAIC-IVECO Hongyan Commercial Vehicle * Shanghai Volkswagen Automotive * Shanghai General Motors Corporation * Shanghai-New Holland Agricultural Machinery * SAIC-GM-Wuling Automobile * Nanjing IVECO Other automotive companies owned by SAIC: * MG Motor UK * SAIC-Commercial Vehicle - manufactures the Maxus commercial van * Shanghai Diesel Engine Company * Shanghai-Sun-win Bus Corporation * Shanghai-Huizhong Automotive Manufacturing * Shanghai-Xingfu Motorcycle SAIC Equipment Companies * Shanghai-Pengpu Machinery * Shanghai Tractor & Internal Combustion Engine Corporation (STEC) See also *List of Chinese automakers *List of Volkswagen Group factories References External links *SAIC Motor site Category:Shanghai Automotive Industry Corporation Category:Motor vehicle manufacturers of China Category:Companies of China Category:Companies based in Shanghai